While the trend of tech IPOs is continuing even in 2019, companies like Uber, Postmates, and Palantir have all filed for their IPOs, preparing to go public in 2019, while Lyft already went public by the end of March, setting a price of 72$ per share and collecting 2.3 billion dollars through their public offer.
Pinterest is another one of the companies with a plan to go public, preparing their IPO for several years now, while the estimates for Pinterest IPO were set at 12 billion dollars back in 2017 when the company’s representatives stated that Pinterest is getting close to scoring 1 billion dollars n revenue generated through ads.
Pinterest Reveals Expected Price Range per Share for their Upcoming IPO
Even though the company was positive about the 12 billion dollars-worth IPO evaluation, estimates for the public offering for Pinterest have changed since 2017.
After reporting that Pinterest is close to making a billion through ad revenue, the company eventually reported 756 million dollars in revenue for 2018 when Pinterest officially filed for their IPO, that way lowering the initial estimates to 9 billion dollars.
Pinterest will issue 75 million A class shares, while they expect to see the share price set between the value of 15$ and 17$ per share, which should bring 1.3 billion dollars through the IPO sale in the best-case scenario.
The company has been officially approved for a listing on Nasdaq, where it should commence trading under the thicker (PINS).
Additionally, the company is said to be recording 60% of growth in revenue for 2018, however, Pinterest still have losses to cover, reporting 63 million dollars in net loss for the same period, year to year.
The company should become publicly traded under the thicker PINS by the end of spring 2019, when Pinterest will join the boom of tech IPOs.
